HK-US Market Review (11.03) Secure the home front before venturing abroad, opportunities in Hong Kong stocks are brewing

Dear friends, if you've been following the A-share market recently, you must know that the Shanghai Composite Index has once again broken through the 4,000-point mark. Although it only held for a day, the momentum was impressive, with the overall trend continuing to hit new highs. The capital power in this round is indeed strong. On the other hand, the Hong Kong market seems a bit "lagging behind," having fallen from 27,381 and only briefly rebounding to around 26,600 before retreating again.

I won't repeat the well-known reasons—tight liquidity, ongoing policy developments—these are just surface-level factors.
In my view, the most critical phrase at this stage is: "Secure the home front before venturing abroad." Applied to the market, this is quite interesting. The strength of the A-share market is a form of "securing the home front." The domestic market must first stabilize and strengthen before it can drive expectations in the peripheral markets. This is why, since the decline in early October, I've been emphasizing: You can add positions, you can build positions, don't be afraid. As for the Hong Kong market, although it hasn't fully taken off yet, market rallies often emerge from the most stagnant periods.
Be patient.
Just like a seed buried in the soil, not sprouting doesn't mean it's not growing roots. Market logic is changing, but our positioning rhythm is correct.

$Hang Seng Index(00HSI.HK) : Don't fear short-term volatility; the long-term trend remains intact.

For the Hang Seng Index, as always—look past short-term fluctuations and focus on the long-term trend. As long as the overall structure is one wave higher than the last, there's no need to worry. When this decline started, I was the first to say: Don't be afraid. I chose to add and build positions because, from a cyclical perspective, this level is reasonable. Unless you're trading short-term, there's no need to obsess over daily price movements. Markets correct after rising too much and rebound after falling too much—that's the rule. Real opportunities often emerge during these emotional lows.

Hong Kong Stocks: AAC Tech Performs Well; Meituan and Alibaba Hold Steady

Our long-term holdings—$MEITUAN(03690.HK) ,$JD-SW(09618.HK) ,$BABA-W(09988.HK) ,$AAC TECH(02018.HK) —today, I'm most satisfied with AAC Technologies. It opened steadily, allowing me to enter smoothly, and the rhythm was very comfortable. I took the opportunity to add to my ideal position and now await further developments. The others haven't changed much; the logic remains intact, and the trends are unbroken. Patience is the most important strategy at this stage.

U.S. Stocks: Wait for Opportunities, Don't Act Rashly

For U.S. stocks, I'll say it again—don't act unless the price is right.
$Tesla(TSLA.US) I don't like this level; the risk-reward isn't favorable.
$NVIDIA(NVDA.US) Glad I didn't short, or I'd be suffering.
$Apple(AAPL.US) My short at 265 is still open; no action for now.
$Amazon(AMZN.US) I built a position at 217 and chose to take profits around 250, closing comfortably.

A Quick Summary

There's really nothing to panic about in this market. The rally in A-shares shows domestic capital confidence is recovering, and the Hong Kong market is just temporarily lagging—a matter of timing. With positions, logic, and a plan in hand, don't let short-term fluctuations sway you. Sometimes, the hardest test in the market isn't the decline itself but whether you can wait patiently in the silence.

The rally is on its way. Those with patience will eventually see results.